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VANCOUVER, BC, Feb. 17, 2022 /CNW/ - HeliosX Lithium &
Technologies Corp.("HeliosX") (TSXV: HX) (FSE: C2U0) is
pleased to provide an update to investors on plans for 2022 and
2023. HeliosX technical management team is focused on delineating
and commercializing its lithium assets in Alberta (Canada), Nevada (USA) and Jujuy (Argentina). The
Company has focused on evaluating and determining the optimal
direct lithium extraction ("DLE") technologies to apply to each
jurisdiction. The evaluation results to date have determined that
no DLE process can be applied universally, and that each brine
reservoir complex requires a unique solution to optimize lithium
recovery.
HeliosX currently holds over 560,000 acres of lithium brine rights located in Canada, USA and Argentina. The
focus of the Company in the coming years will be to drill its
existing asset base, develop detailed lithium brine geological
and reservoir dynamic fluid flow characterization models, and to
take the next steps towards commercialization of
its asset base.
The "Myth" versus "Reality" of Direct Lithium Extraction ("DLE")
It is Management's opinion, that there is no singular DLE
technology that will deliver a "one process fits all" for lithium
extraction. There are numerous companies globally developing
proprietary patent pending lithium extraction techniques, but none
that will apply universally. Each technology has its benefits and
limitations, so the HeliosX management team has determined that its
three distinct global reservoirs require site specific solutions.
One of HeliosX's partners has reviewed over ten different DLE
processes from the United States,
Canada, Germany and China, without success. The consistent
challenge faced by DLE systems has been addressing the competing
ions for each exchange process and varying lithium concentrations
that occur during long term production from reservoirs. HeliosX's
strategy is to identify and employ DLE technologies that are most
suitable to lithium brine reservoirs in each of its jurisdictions,
as outlined below.
Regional Specific Direct Lithium Extraction ("DLE") Technologies
HeliosX is engaged with multiple DLE providers to optimize the
technology and design for each field. Management believes that
a global trend will see the reduction of evaporation ponds and
evolve to an environmental requirement to
utilize DLE systems.
In Argentina, HeliosX is in partnership with a subsidiary of
PlusPetrol Resources Corporation B.V., Litica Resources S.A.
("Litica"), and is currently working with Koch Separation
Solutions ("Koch") alongside Craig
Brown of Chemionex Inc. who is the scientific advisor to
Standard Lithium Ltd. ("Standard"). Mr. Brown is a professional
engineer and a hydrometallurgical expert with over 45 years
experience developing processes for separating a wide range of
chemicals from aqueous solutions. Mr. Brown was a key developer of
the LiSTR lithium extraction process currently in use by Standard
on its Arkansas Smackover lithium project. He is working with
HeliosX on the next generation LIONEX lithium extraction process.
Pending successful prefeasibility results, HeliosX intends to
mobilize a pilot facility to utilize the LIONEX process in
Argentina on its Guayatoyoc
concessions in 2023.
In Canada, due to the unique brine reservoir characterization,
HeliosX has partnered with a private lithium extraction entity,
Litus Energy & Environmental Solutions ("Litus"). Litus,
through ongoing research work completed at the University of Calgary, has developed a
nano-composite material for environmental direct lithium
extraction. The nano-material is comprised of practical composition
materials that are readily accessible, has a high selectively for
lithium and a high absorption rate. This extraction process is
optimally designed for concentrations below 150 mg/l lithium
brines, with the ability to efficiently work in high magnesium to
lithium environments. HeliosX is currently working on the
prefeasibility design for a pilot facility in Alberta in 2023.
In Nevada, HeliosX has
partnered with a subsidiary of Lilac Solutions Inc.
("Lilac") on its Alkali Lake property that is
immediately adjacent to the Albemarle Corp. 5,000 tpa Silver Peak
lithium carbonate facility. Lilac has developed and patented a
new ion exchange technology to extract lithium from
brines without evaporation ponds. Lilac's technology protects
the environment, accelerates project development, increases
recovery and yields a high-purity product. Lilac's new ion exchange
beads and modules
unlock this powerful technology for
the lithium industry.
Argentina – Update
Jujuy Province, Argentina - 230,000 acres (93,000
hectares) located in Guayatoyoc and Salinas Grandes salars with a
basin depth of 2.5 kilometers. The properties are located 60
kilometers east of the commercial Orocobre and Lithium Americas
lithium production facilities. HeliosX is partnered with PlusPetrol
Resources Corporation B.V. who, through an Earn-in Agreement, have
earned a 51% interest in the project. PlusPetrol has created the
company Litica Resources S.A. to enter the "battery metals"
business.
Detailed Models – HeliosX and Litica are working towards
a detailed lithium source model to determine the extent of the
lithium brine opportunity on its combined assets. Currently
utilizing FEFLOW, the technical team combines the impact of surface
(or near sub-surface) freshwater interactions with brine reservoirs
to model potential regions of higher or lower lithium
concentrations for potential future commercial regions. Combining
sampling information, 3D geological models and combining fluid flow
simulations, the technical team could optimize a development
strategy.
Smaller Environmental Footprint – HeliosX has introduced
the latest in Canadian technologies for horizontal pad
drilling strategies combined with integrated 4D real time drilling
technology that
could utilize 3D geological models to optimize the development with the lowest environmental footprint.
Lithium assay results obtained from the northwest portion of the
San Jose-Navidad minas on the
Salinas Grandes salar from 25 shallow pits indicated 60% of
Lithium brine samples returned assay grades more than 500 mg/l
Lithium and 16% in excess of 800 mg/l Lithium. Lithium
brine assays ranged from 281 mg/l to 1,353 mg/l,
averaging 591 mg/l.
Comprehensive data gathering has begun for the assets in 2022
with a focus on surface sampling and lithium source determination
throughout the region. Once the information from 2022 is
incorporated into the geological models; tentatively, there is a
plan to initiate a deep well drill program in 2023. The sedimentary
basin is up to 2.5 kilometers deep, potentially providing
significant recoverable lithium resource exposure to investors.
Argentina Recent Elections and Impact on HeliosX
Legislative elections were held in Argentina November 14, 2021 where the
center-right group "Together for Change" ("TC") made significant
gains. The most important impact, as it relates to HeliosX, was the
positive directional indication in the Jujuy province where HeliosX
holds assets. The province elected the TC group which is
center-right and oriented towards positive change for a
market-friendly government. HeliosX's focus on exploration and
development is focused exclusively in the Jujuy province. This was
not an isolated event, as the general election results indicated a
movement towards political support for a market-friendly
Congress.
Nevada – Update
Teels Marsh valley – 7,914 acres (3,202 hectares), 403 placer mining claims, 100% owned, 2.5 kilometer deep
basin, located 80 kilometers northwest of Albemarle's Silver Peak
Lithium brine mine in Clayton Valley. Surface
exploration, road building and construction of two large drill pads
for drilling of four production diameter exploration wells is
completed. Near surface Lithium brine analysis received of
79 mg/l. Water rights have been granted for 3 years
and permits for drilling are in place. A two
to four well drill program is being
discussed for late 2022.
Alkali Lake valley –
HeliosX has been put on notice for a well location in 2022,
pursuant to an Earn-in Agreement with Lone Mountain Resources
("LMR"), an affiliate of Lilac Solutions Inc. LMR
has recently filed an application permit for drilling the
initial well on the property for mid-2022 with the Nevada
Bureau of Land Management. LMR will earn a 75% interest in
Alkali Lake lithium project
and will likely review the drill results for application of
Lilac's proprietary DLE process. The project
is located 11 kilometers east of Albemarle's Silver Peak mine in Clayton Valley, the only producing Lithium brine operation
in the USA.
Canada – Update
Fox Creek, Alberta – 311,900 acres
(126,220 hectares) Alberta mineral rights in close proximity to
existing lithium brine occurrences. A work program will be ongoing
in 2022 with a feasibility study from previous regional results to
determine a drill program for either late 2022 or 2023. The company
is targeting large lithium brine charged carbonate reef complexes
located at depths below 1.9 kilometers. HeliosX plans to complete a
feasibility study for the application of Litus's proprietary
lithium extraction technology, developed at the University of Calgary, to economically extract
lithium from lower concentration lithium brine reservoirs. Pilot
lithium extraction facility is undergoing pre-feasibility review
with tentative plans for an installation in 2023.
British Columbia - the
prefeasibility of the first gold concentration processing facility
in North America is underway. This
facility will initially process up to 10 tonnes per day of gold
concentrate and provide producers with an environmentally positive,
Iodine option- rather than exporting concentrate to China for Cyanide extraction. A Letter of
Intent has been signed with one of the largest global gold
concentrate marketing companies to provide both Feedstock and
Offtake arrangements for the facility.
HeliosX Assets in Good Standing
All of HeliosX leases and permits are in good standing with all regulatory agencies and partnerships, and it has
no near-term material financial obligations. The Company plans to
apply its sub-surface reservoir characterization expertise to
technically refine its inventory of opportunities. HeliosX has a
strong outlook on lithium prices and will continuously seek
opportunities to develop partnerships to accelerate
the commercialization of its asset base.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the
United States. The securities have
not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act")
or any state securities laws and may not be offered or
sold within the United States
or to U.S. persons unless registered under the U.S. Securities Act
and applicable
state securities laws or an exemption from
such registration is available.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for
the adequacy or accuracy of this release.
Notice on Forward Looking Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to the integration of the businesses of
HeliosX and ongoing performance. Often, but not always, forward-
looking statements or information can be identified by the use of
words such as "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information.
With respect to forward-looking statements and information
contained herein, HeliosX has made numerous assumptions including
among other things, assumptions about general business and economic
conditions of the Company and the market in which it operates. The
foregoing list of assumptions is not exhaustive.
Although management of HeliosX believe that the assumptions
made and the expectations represented by such statements or
information are reasonable, there can be no assurance that
forward-looking statements or information herein will prove to be
accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. These factors include, but are not
limited to: risks associated with the business of HeliosX; business
and economic conditions in the lithium industry generally; changes
in commodity prices; changes in interest and currency exchange
rates; government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters); changes in general economic conditions or conditions in
the financial markets; changes in laws; risks related to the direct
and indirect impact of COVID-19 including, but not limited to, its
impact on general economic conditions, the ability to obtain
financing as required; and other risk factors as detailed from time
to time. HeliosX does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
For further information: Please contact:
Brian Findlay- President
Christopher Brown, P.Eng - CEO
Telephone: (604) 681-6151
Email: info@heliosx.ca
www.heliosx.ca
SOURCE HeliosX Lithium & Technologies Corp
